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FxWirePro: ETH/USD surges to all-time high at 420, bias bullish, stay long

ETH/USD surged to fresh all-time highs at near 420 levels on Thursday before it closed at 408 levels. It is currently trading at 410 levels at the time of writing (Kraken).

Ichimoku analysis (Daily chart):

Tenkan-Sen: 367.78

Kijun-Sen: 348.84

On the upside, a consistent break above 422 (trend line joining 349.50 and 419.98) would see the pair testing 447 (127.2% retracement of 395 and 201.28)/479 (127.2% extension of 201.28 and 419.98)/500.

On the downside, support is seen at 384 (5-DMA) and a break below would see the pair testing 360 (10-DMA)/334 (20-DMA). Further weakness would target 311 (trend line joining 201 and 277)/303 (Cloud top)/ 273 (200-DMA).

Momentum studies: Bias remains bullish on the daily chart, with RSI strong at 76, MACD line above the signal line, and major moving averages biased sharply higher.

Call Update: We recommended going long in our previous call. The pair has hit both the targets.

Recommendation: Book partial profits, stay long. Trail stop loss to 380. TP: 447/479.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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2018-10-18 15:31:10
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2018-10-18 15:31:02
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2018-10-18 15:30:50
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2018-10-18 15:30:36
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October 18 14:30 UTC Released

USNat Gas-EIA Implied Flow

Actual

81 bcf

Forecast

Previous

90 bcf

October 18 14:30 UTC Released

USNat Gas, Change Bcf

Actual

81 Cubic feet

Forecast

82 Cubic feet

Previous

90 Cubic feet

January 31 00:00 UTC 375367375367m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375367375367m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387187387187m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375367375367m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387187387187m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375367375367m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375367375367m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375367375367m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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